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MGT401 Quiz Chapter 1-22 Shared And Solved By Tahira Yasmeen

MGT401 Quiz Chapter 1-22
Shared & Solved By Tahira Yasmeen
Question # 2 of 15 ( Start time: 07:10:32 PM )  Total M - 1  
In relation to the valuation of inventory, net realizable value means:  
Select correct option:  
 
 The expected selling price less disposal costs less the cost of completion 
 The expected selling price of the inventory 
 The replacement cost of the inventory 
 The market price of the inventory 
 Reference
     
What will be the Book value of asset if its Original cost is Rs. 100,000; Accumulated depreciation is Rs. 40,000; and Depreciation for the year is Rs. 20,000?  
Select correct option:  
 
 Rs. 140,000 
 Rs. 160,000 
 Rs. 80,000 
 Rs. 60,000 
 
Question # 4 of 15 ( Start time: 07:12:57 PM )  Total M - 1  
Which of the following is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction?  
Select correct option:  
 
 Depreciable Amount 
 Fair Value page 78
 Cost 
 Carrying Amount 
 
Question # 5 of 15 ( Start time: 07:14:18 PM )  Total M - 1  
When we see the capital with Production capacity or operating capability of the enterprise then it called:  
Select correct option:  

 The financial concept of capital maintenance page 104

 The physical concept of capital maintenance 
 Both physical and financial concept of capital maintenance 
 Neither physical nor financial concept of capital maintenance 
 
Question # 6 of 15 ( Start time: 07:15:43 PM )  Total M - 1  
Which of the following IAS deals with the Intangible Assets?  
Select correct option:  
 
 IAS 38 page 162
 IAS 23 
 IAS 01 
 IAS 16 
Treated as an expense page 21 1 question answer
Question # 8 of 15 ( Start time: 07:17:58 PM )  Total M - 1  
Which of the following is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding?  
Select correct option:  
 
 Research 
 Development 
 Audit 
 Accounting 
Reference 
Question # 9 of 15 ( Start time: 07:19:21 PM )  Total M - 1  
Which of the following is NOT an accounting concept?  
Select correct option:  
 
 Prudence correct 
 Going concern 
 Depreciation 
 Matching 
Question # 10 of 15 ( Start time: 07:20:37 PM )  Total M - 1  
Which of the following is/are example(s) of research activities?  
Select correct option:  
 
 Activities aimed at obtaining new knowledge 
 The search, evaluation, final selection and application of research findings
 The search for alternatives 
 All of the given options page 37
 
Question # 11 of 15 ( Start time: 07:22:02 PM )  Total M - 1  
Which of the following is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale?  
Select correct option:  
 
 Qualifying Asset page 31
 Outstanding Asset 
 Tangible Asset 
 Intangible Asset 
 
Question # 12 of 15 ( Start time: 07:22:52 PM )  Total M - 1  
Which of the following asset is NOT an example of Tangible Fixed Assets?  
Select correct option:  
 
 Patent rights correct
 Furniture 
 Vehicles 
 Machinery 
 
Question # 13 of 15 ( Start time: 07:24:05 PM )  Total M - 1  
Which of the following is/are the physical asset(s)?  
Select correct option:  
 
 Term Finance Certificates 
 Loan Agreements 
 Trade Receivables 
 All of the given options page 84

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